There are several reasons for the applying for a patent.

A patent gives you exclusive rights to your invention, preventing others from using, selling, or producing your innovation without your permission. This allows you to recoup all the time, effort, and investment you have put into developing the product. At first glance, patents often seem expensive, but when you compare the costs to the total costs often involved in developing a new product, they are often only a very small part of that.

Patents can also be an important part of a company's value. Having a strong patent portfolio can make your company more attractive to investors and potential partners. It demonstrates that your company possesses valuable intellectual property rights, which can emphasize its growth potential and stability. The patent portfolio also contributes to the company's image.

A patent can also generate income directly. By issuing a licence, you can grant another person permission to make or sell the patented product, on payment of licence fees. This can be very lucrative if the patented is widely applicable in different sectors. Selling a patent is also an option. This can be a source of income or used strategically to enter into collaborations.

Having a patent can make it easier to obtain funding for research and development, because it may be attractive for investors and subsidy providers to invest in intellectual property that is eligible for patent protection.

Finally, when large taxpayers wish to make use of the innovation box, then a patent can serve as a second ticket.

You read it, plenty of reasons to apply for a patent. If you have an invention, or want intellectual property advice, contact us. A simple e-mail to info@custos-ipc.nl suffice. Should you prefer telephone contact, please check our contact page.